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remortgage valuation negative equity

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  • remortgage valuation negative equity

    I have an interest only mortage of £131000 my monthly payments have recently doubled as I have come out of a tie in period. I want to look at other options but halifax are saying their value based on the postcode is £125000. They haven't viewed the property and want £180 to revalue. There have been hardly any houses sold around us for some time a few doors up went for £148,000 but ours is a bit bigger and has a larger back garden and more private front garden. They are obviously saying we are on the cusp of if not in negative equity, do I pay them and get it revalued, what is the risk if the valuation comes out even less and in the current climate how high do I need it to be so that I can look for a more competitive lender as I feel the halifax have me over a barrel. Can I get another independant valuation or will that not be recognised by mortgae lenders? Any advice much appreciated.